Chapi Copper Project Expansion and Royalty Increase

awarded

Elemental Royalty Corporation entered into a strategic US$25 million investment package with Quilla Resources and its subsidiary Minera Pampa de Cobre to expand its royalty exposure to the producing Chapi Copper Project in Peru. The package includes an additional perpetual, uncapped 1.0% net smelter return (NSR) royalty on the Pampa Negra and Candelaria concessions, increasing Elemental's total royalty interest to 3.0% NSR. Quilla plans to expand copper cathode output from 10,000 to 30,000 tonnes per annum, using the proceeds for exploration, permitting, engineering, and advancing the planned expansion and potential public listing.